Purkiss Capital Advisors LLC Makes New Investment in Simon Property Group, Inc. (NYSE:SPG)

Purkiss Capital Advisors LLC bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 1,346 shares of the real estate investment trust’s stock, valued at approximately $232,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. boosted its holdings in Simon Property Group by 8.6% during the third quarter. Assenagon Asset Management S.A. now owns 7,650 shares of the real estate investment trust’s stock worth $1,293,000 after buying an additional 607 shares in the last quarter. Capital Advisors Inc. OK boosted its stake in shares of Simon Property Group by 12.6% during the 3rd quarter. Capital Advisors Inc. OK now owns 313,477 shares of the real estate investment trust’s stock worth $52,984,000 after acquiring an additional 35,155 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Simon Property Group by 46.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,781 shares of the real estate investment trust’s stock worth $470,000 after acquiring an additional 883 shares during the period. Optas LLC increased its stake in Simon Property Group by 31.9% in the 3rd quarter. Optas LLC now owns 1,765 shares of the real estate investment trust’s stock valued at $298,000 after purchasing an additional 427 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in Simon Property Group by 11.7% in the 3rd quarter. Van ECK Associates Corp now owns 153,314 shares of the real estate investment trust’s stock valued at $26,649,000 after purchasing an additional 16,032 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the purchase, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 8.50% of the stock is owned by corporate insiders.

Simon Property Group Trading Up 1.9 %

Shares of SPG stock opened at $186.13 on Friday. Simon Property Group, Inc. has a twelve month low of $139.25 and a twelve month high of $188.13. The company has a market capitalization of $60.73 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 10.10 and a beta of 1.74. The firm has a 50-day moving average price of $177.31 and a 200 day moving average price of $173.74. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.51%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Analyst Upgrades and Downgrades

SPG has been the topic of a number of research analyst reports. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. Mizuho lifted their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price target for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $178.44.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.